0.5% Growth Rate in Japan's
Gross Domestic Product for Fiscal 1999

According to the National Income
Statistics flash report for the January through March term announced today, the
gross domestic product (GDP) for the term showed a growth of 2.4%. This is very
encouraging news of positive for the first time in three years, although the real
GDP growth rate for fiscal 1999 did not reached 0.6% which had been a goal set
by the government.

However, the automobile industry feels little reassurance that the economy may
be recovering although car sales began to show an increase in May. The industry
still believes it is too early to conclude from today's figures that the economy
has bottomed out of recession and suspends judgment while carefully monitoring
sales trends for the time being.

The government should continue to take appropriately timed proper measures to
consolidate the economic recovery.